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Circa 400 jobs saved with sale of national cocktail chain and restaurant firm
Approximately 400 employees of the trading sites of DC Bars Limited and Tuttons Brasserie Limited have retained their jobs following a pre-pack administration sale negotiated by Neil Bennett and Dane OHara of Leonard Curtis.
Prior to the sale on 9 June 2023,DC Bars Limited operated Dirty Martini - a leading premium UK cocktail bar chain, whilst Tuttons Brasserie Limited operated Tuttons - one of the most famous and long-standing restaurants in Covent Garden.
The first Dirty Martini opened in 2010 beside its flagship Covent Garden restaurant site, Tuttons, and has since expanded into a desirable late night destination with 10 venues across the country.
Joint administrator Neil Bennett stated: Both DC Bars and Tuttons Brasserie suffered in recent years due to the impact of lockdown and trading restrictions relating to COVID-19 and experienced tough trading conditions over the last year, in line with the hospitality industry in general, including the negative consequences of train strikes, the cost-of-living crisis and inflation.
Leonard Curtis conducted a restructuring exercise via a pre-packaged administration to save the core businesses and trading sites, conducting a discrete AMA process to market the opportunity without damaging any key assets of the businesses.
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with a an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.